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Monetary policy encompasses the policies the central bank uses to influence interest rates in order to change AD. A recession is when there is an economic contraction where real GDP falls for 2 consecutiv...

Start by outlining the type of environment in which energy companies operate in the UK. 1. The market structure is an oligoly. Each firm has a certain amount of market power it is able to exploit. Collusi...

(1) Point: Less global trade

Example: US had a trade deficit of $460bn in 2017 meaning more imports than exports, leads to protectionism (such as 35% tariff on Chinese tyres in 2010).

Analys...

A production possibility frontier, or PPF, is a line showing the maximum level of output in an economy of one good or group of goods in terms of another. At any point on this line, the economy is operatin...

A cut in the base rate (rate at which the central bank lends to commercial banks) generally increases growth, and an increase in rates reduces growth. This is due to several factors:

1. Impa...